Tata Steel joins LeadIT to accelerate net-zero transition

13 Jul 2023 , 01:44 PM

Tata Steel announced that it has collaborated with the Leadership Group for Industry Transition (LeadIT), a global initiative to speed up net-zero emissions transmissions in heavy industry.

LeadIT was founded by the governments of Sweden and India during the United Nations Climate Action Summit in September 2019, and it is supported by the World Economic Forum.

The organization brings together governments, investors, businesses, and other stakeholders to share best practices, develop new technologies, and advocate for policies that promote the transition to a zero-emissions economy.

Tata Steel’s membership in LeadIT marks an important milestone for the company, positioning it as a global leader in its effort to decarbonize the steel industry.

Tata Steel has set a goal of becoming carbon-neutral by 2045, and joining LeadIT will assist the company in meeting that goal by offering access to a network of experts and resources.

The company stated that it would collaborate with LeadIT to share its experiences in creating and implementing low-carbon steel manufacturing technologies, as well as to advocate for policies that support the transition to a zero-emissions economy.

At around 1.40 PM, Tata Steel was trading 1.18% higher at Rs 116.05, against the previous close of Rs 114.70 on NSE. 

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